Hut 8 (NASDAQ:HUT) Rating Increased to Hold at Wall Street Zen

Hut 8 (NASDAQ:HUT) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

HUT has been the subject of a number of other research reports. B. Riley upped their price target on Hut 8 from $61.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Benchmark reaffirmed a “buy” rating on shares of Hut 8 in a research note on Wednesday, December 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Hut 8 in a research report on Monday, December 29th. Northland Securities set a $58.00 price target on shares of Hut 8 in a report on Wednesday, November 5th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Hut 8 in a report on Thursday, December 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $59.12.

Hut 8 Stock Performance

Shares of NASDAQ HUT opened at $55.83 on Friday. The company’s fifty day moving average price is $50.20 and its 200 day moving average price is $39.28. Hut 8 has a 1 year low of $10.04 and a 1 year high of $66.07. The company has a market capitalization of $6.03 billion, a PE ratio of -143.15 and a beta of 4.41. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.72 and a current ratio of 0.72.

Hut 8 (NASDAQ:HUT) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.09. Hut 8 had a net margin of 115.39% and a return on equity of 8.06%. The company had revenue of $80.72 million during the quarter, compared to analysts’ expectations of $64.70 million. On average, research analysts predict that Hut 8 will post -0.53 earnings per share for the current year.

Institutional Trading of Hut 8

Large investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its holdings in Hut 8 by 1.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company’s stock valued at $734,000 after buying an additional 254 shares during the period. CWM LLC increased its position in shares of Hut 8 by 37.4% during the fourth quarter. CWM LLC now owns 1,106 shares of the company’s stock valued at $51,000 after acquiring an additional 301 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Hut 8 by 3.5% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company’s stock valued at $331,000 after acquiring an additional 321 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Hut 8 by 1.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company’s stock worth $996,000 after acquiring an additional 362 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Hut 8 by 1.9% in the 3rd quarter. Arizona State Retirement System now owns 29,290 shares of the company’s stock worth $1,020,000 after acquiring an additional 542 shares during the last quarter. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Hut 8 Company Profile

Hut 8 Corp., trading on the Nasdaq under the symbol HUT, is a North American digital infrastructure company specializing in cryptocurrency mining and high‐performance computing. Founded in 2017 and headquartered in Toronto, Canada, Hut 8 operates purpose‐built data centers that house fleets of specialized ASIC and GPU servers. Through its flagship mining facilities in Alberta and Ontario, the company leverages low‐cost, low‐carbon power sources—such as hydroelectric and natural gas—to support sustainable bitcoin production.